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PhotoCure Chairman Erik Engebretsen to Resign from the Board of Directors


2/10/2011 9:47:58 AM

Oslo, Norway, 10 February, 2011Photocure (OSE: PHO), a Norwegian specialty pharmaceutical company focused in dermatology and cancer, announces the decision of its Chairman Erik Engebretsen to resign from the Company’s Board of Directors. Erik Engebretsen will continue to serve as Chairman until the Company’s next General Assembly Meeting, taking place in April 2011.

Erik Engebretsen represents Photocure’s fourth largest shareholder Gezina AS, owning 6% of the Company. He has been member of the Board of Directors for the past 10 years and Chairman of the Board since 2002.

Erik Engebretsen says: ‘It has been an exciting journey leading Photocure to its current position. Photocure has a clear strategy and the financial strength to execute this strategy over the next coming years. I look forward following the Company during its next phase of development. ’.

Jónas Einarsson, Chairman of Photocure’s Nomination Committee says: ‘On behalf of the Nomination Committee and Photocure’s shareholders, I want to thank Erik Engebretsen for outstanding leadership as Chairman and Board Member over the last ten years. During this period, Photocure has grown from a small biotech company into a Specialty Pharmaceutical company with a leading position in Norway’s biotech industry. Photocure has developed and commercialized two products and has an exciting pipeline of new products.’

Photocure’s Nomination Committee will nominate new Board Members to Photocure’s upcoming General Assembly Meeting, taking place on 27 April 2011.

For further information, please contact:

Jónas Einarsson, mobile: + 47 48 09 63 55, email: je@radforsk.no Erik Engebretsen, mobile: + 47 911 22 990, email: ee@brovig.no

About Photocure ASA

Photocure ASA is a worldwide leader in photodynamic therapy. Listed on the Oslo Stock Exchange (OSE: PHO), Photocure develops and sells pharmaceuticals and medical devices for the photodynamic treatment and diagnosis of cancer and selected dermatology indications. The company strives to solve unmet needs by developing new and innovative solutions based on its patented Photocure Technology™. Photocure markets and sells its own products in selected markets and has developed strong partnerships with leading pharmaceutical companies on a regional and global basis. Photocure’s bladder cancer diagnostic product, Hexvix® is approved in the European Union and the US. Setting new standards for diagnosis and treatment of several different conditions, Photocure Technology™ is very selective, targeting only diseased cells and preserving healthy tissue. Photocure Technology™ is being tested for new products and indications including acne, improving the appearance of skin (Allumera™), diagnosing colon cancer (Lumacan™ which is outlicensed to Salix Pharmaceuticals) and the treatment of pre-malignant cervical lesions (Cevira®).

Photocure®, Cevira® and Hexvix® are registered trademarks of Photocure ASA.

For more information about Photocure, visit our website at www.photocure.com

Justine Lamond Senior Consultant 81 Whitfield Street, London, W1T 4HG, UK T: +44 (0) 20 7307 5337 M: +44 (0)7 919 828 314 E: justine.lamond@capitalmsl.com www.capitalmsl.com www.MSLGroup.com


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